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Economy
Naperville among the top 50 cities in U.S. at risk of housing slump, website report says
2019-09-22
[Chicago Tribune] The housing market in Naperville and other collar county communities are showing signs of trouble, according to an online company that evaluated 500 of the largest cities in America.

Naperville ranked No. 46 in an assessment by GOBankingRates.com of communities at risk of heading into a real estate market downturn, though it does not mean a crash is imminent.

The website that connects readers with interest rates on financial services analyzed data from 500 U.S. cities on such things as foreclosure rates, median home listing prices, percentage of home listings where prices were cut and mortgages that are higher than a home’s worth. All the data was compiled on Aug. 20.

GOBankingRates said while Naperville consistently makes various lists of "best places to live," the city’s housing market has been slumping and home prices have dropped more than 2% the past two years.

The median list price in Naperville was $439,990, the website said.
Posted by:Besoeker

#8  You want affordable housing but you don't want a slump in the housing market. You can't have it both ways. Take your pick. It's one or the other.
Posted by: Abu Uluque   2019-09-22 14:16  

#7  
or this empty Lucent building.
Posted by: 3dc   2019-09-22 12:03  

#6  BTW Lucent's old HQ is starting to have it's parking lot reclaimed by Nature. The HQ is all glass. I wouldn't want to pay it's electric bill...
Posted by: 3dc   2019-09-22 12:01  

#5  Naperville is strange. It's major industries have already exited "stage left". Western Electric - long gone, Bell Labs - long gone with elements still in small Nokia unit. Lucent - long gone. Phone switch generic company in NW Naperville - very sick. It goes on and on with the old big boys. Currently the lights are company warehouse mail-order shipping free trade areas like Crate and Barrel - but most of their workers are low end blue collar and the high end are designers who live on the Gold Coast meaning the workers can't afford Naperville and the designers prefer Evanston so nobody working there buys in Naperville.
Posted by: 3dc   2019-09-22 11:55  

#4  I blame the flight of the privileged.
Posted by: Besoeker   2019-09-22 11:04  

#3  Getting out before the tax farmers show up

They're already there, P2k. Their 'harvesting plans' are still in development, though.
Posted by: Mullah Richard   2019-09-22 10:24  

#2  Peoria, IL is #1. A lot of Florida cities in the top 50. Some California, Atlanta.

Seems to me this is a statistician trying to make a story.
Posted by: Bobby   2019-09-22 09:12  

#1  City just west of Chicago, IL. Getting out before the tax farmers show up. It's always best to be in front of the wave.
Posted by: Procopius2k   2019-09-22 07:16  

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